PetSmart Inc. has named J.K. Symancyk as its new chief executive as the specialty pet retailer looks to stem a decline in sales at its 1,600 stores, WSJ Pro Bankruptcy reported. Symancyk most recently served as the CEO of Academy Sports + Outdoors, a private sporting goods retailer, and will take over as CEO of PetSmart in June. He replaces Michael Massey, who stepped down in August after leading the company since private-equity firm BC Partners took it private in 2015. PetSmart’s $650 million, 8.875 percent bonds, maturing in 2025, have lost over seven cents — to 48.625 cents on the dollar of face value — according to MarketAxess, since the retailer announced earnings in late April.
